Yeppa: I can't be bothered finding the exact numbers but as a...

Yeppa: I can't be bothered finding the exact numbers but as a very rough guide:

Cash: is 4-6m (depending on convertible notes pending Feb 2012)

Assets:
Rig would cost approx 7m to build another so value it at 7m
CLRS, hard to put a value on, I think of this as a bonus.

So, basically, the company is looking dirt cheap as its market cap only reflects the current cash in bank plus the physical rig. The 2 technologies are virtually valued at nil right now!

Of course, there is an IP agreement on the rig design requiring the company to build rig after rig and expand quickly or face heavy penalties. Not much of a problem if the rig is as good as claimed and management are on the ball..

Plough, that reception issue is actually a major concern. WTF is going on there? Is she someones partner/wife/girlfriend? Not being racist, this is purely a business thing.
Could you imagine what a big financial institution must think, when they ring up? Or a big energy or mining company?
It was like a comedy skit when I called with my quick question that day about the geothermal conference- hilarious miscommunications. If I was a lender doing my DD before lending them 15 million and I rang reception, well it doesn't bear thinking about.

Bernie needs to sort this out pronto.

In other matters, if anyone is really bored, a little light holiday reading from my Philippines research:

http://www.philstar.com/Article.aspx?articleId=748448&publicationSubCategoryId=

http://www.drillingcontractor.org/dcpi/dc-marapr07/DC_Mar07_ogena.pdf